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Wall Street News, Research & AnalysisSat, 25 May 2019 14:05:18 +0000en-UShourly1https://wordpress.org/?v=4.9.10Equities End Higher as Financial Shares Lead Advance; Qualcomm Jumps 23% on Settlement With Applehttps://wallstreet.org/end-higher-as-financial-shares-lead-advance-qualcomm-jumps-23-on-settlement-with-apple/04/17/2019/
https://wallstreet.org/end-higher-as-financial-shares-lead-advance-qualcomm-jumps-23-on-settlement-with-apple/04/17/2019/#respondWed, 17 Apr 2019 11:05:14 +0000https://wallstreet.org/?p=173897Stocks ended higher Tuesday, boosted by solid earnings but the gain in the Dow Jones Industrial Average was hindered by a drop in UnitedHealth. UnitedHealth (UNH), which advanced on Monday ahead of its latest profit report, dropped 4% on Tuesday after the numbers came out where it posted better-than-expected earnings and raised its guidance for […]]]>

Stocks ended higher Tuesday, boosted by solid earnings but the gain in the Dow Jones Industrial Average was hindered by a drop in UnitedHealth.

UnitedHealth (UNH), which advanced on Monday ahead of its latest profit report, dropped 4% on Tuesday after the numbers came out where it posted better-than-expected earnings and raised its guidance for the full year.

Energy shares gained 0.7% as oil prices rose. West Texas Intermediate crude oil for May delivery rose nearly 1.2% to $64.15 a barrel while international benchmark Brent crude oil for June delivery advanced more than 0.7% to $71.71.

Qualcomm (QCOM) jumped more than 23% as it and Apple (AAPL) agreed to drop all litigation between the companies worldwide in a settlement that includes a payment to Qualcomm from Apple, which ended up slightly.

Boeing (BA) rose 1.7% after a Federal Aviation Administration draft report said the anti-stall software that is believed to have been a factor in two recent fatal crashes was “operationally suitable.”

In corporate news AT&T (T) sold its minority stake in streaming service Hulu back to the joint venture for $1.4 billion. AT&T gained 0.7%. Walt Disney (DIS), now the majority stakeholder in Hulu, lost 1.6%. Comcast (CMCSA), Hulu’s minority holder, gained 0.5%.

Advanced Micro Devices (AMD) jumped 2.2% after Sony previewed a new version of its PlayStation game console that runs off of AMD’s chips.

In economic news, industrial output unexpectedly contracted in March, according to the Federal Reserve.

]]>https://wallstreet.org/end-higher-as-financial-shares-lead-advance-qualcomm-jumps-23-on-settlement-with-apple/04/17/2019/feed/0UnitedHealth Posts Better-Than-Expected First-Quarter Earnings and Raises Full-Year Guidancehttps://wallstreet.org/unitedhealth-posts-better-than-expected-first-quarter-earnings-and-raises-full-year-guidance/04/16/2019/
https://wallstreet.org/unitedhealth-posts-better-than-expected-first-quarter-earnings-and-raises-full-year-guidance/04/16/2019/#respondTue, 16 Apr 2019 14:59:26 +0000https://wallstreet.org/?p=173870UnitedHealth Group (UNH) posted better-than-expected first-quarter earnings and revenue while the health insurer said it was raising its outlook for the full year. The Minnetonka, Minn.-based company reported $3.73 in adjusted earnings per share for the just-ended quarter, up from $3.04 in the prior-year period and above the $3.60 expected by analysts polled by Capital […]]]>

UnitedHealth Group (UNH) posted better-than-expected first-quarter earnings and revenue while the health insurer said it was raising its outlook for the full year.

The Minnetonka, Minn.-based company reported $3.73 in adjusted earnings per share for the just-ended quarter, up from $3.04 in the prior-year period and above the $3.60 expected by analysts polled by Capital IQ.

Revenue rose to $60.3 billion in the quarter, up from $55.2 billion the year before, led by gains in its UnitedHealthcare Medicare & Retirement, Optum Rx and OptumHealth businesses. Wall Street was expecting $59.7 billion.

The company’s shares had traded more than 3% higher after the earnings report and before the market opened, but gave back the pre-market gain and was 1.5% lower at the time of writing.

UnitedHealth raised its guidance for full-year adjusted diluted earnings per share to $14.50 to $14.75, up from the $14.40 to $14.70 it affirmed in mid-January. The Capital IQ consensus is for $14.63.

“Our employees’ shared vision of improving the health of the people we serve and the performance of health systems for everyone is providing for society and driving consistent growth for our business,” Chief Executive David Wichmann said in a statement.

“The revenue effect from the deferral of the health insurance tax was the primary driver of the 60-basis point year-over-year increase in the consolidated medical care ratio to 82% in first-quarter 2019,” UnitedHealth said.

The company said medical costs were “well-managed and included $300 million in favorable reserve development in the quarter, consistent with the level of development reported one year ago. Day claims payable of 49 days were consistent with first quarter 2018.”

]]>https://wallstreet.org/unitedhealth-posts-better-than-expected-first-quarter-earnings-and-raises-full-year-guidance/04/16/2019/feed/0Electronics for Imaging to be Acquired by Siris Capital Group Affiliate for $1.7 Billionhttps://wallstreet.org/electronics-for-imaging-to-be-acquired-by-siris-capital-group-affiliate-for-1-7-billion/04/15/2019/
https://wallstreet.org/electronics-for-imaging-to-be-acquired-by-siris-capital-group-affiliate-for-1-7-billion/04/15/2019/#respondMon, 15 Apr 2019 15:06:39 +0000https://wallstreet.org/?p=173865Electronics for Imaging (EFII), a provider of digital printing, has entered into a definitive agreement to be acquired by an affiliate of private equity firm Siris Capital Group in an all-cash transaction valued at approximately $1.7 billion. Under the terms of the agreement, which has been approved by EFI’s directors, an affiliate of Siris will […]]]>

Electronics for Imaging (EFII), a provider of digital printing, has entered into a definitive agreement to be acquired by an affiliate of private equity firm Siris Capital Group in an all-cash transaction valued at approximately $1.7 billion.

Under the terms of the agreement, which has been approved by EFI’s directors, an affiliate of Siris will acquire all the outstanding common stock of EFI for $37 per share in cash.

The company’s stock surged 27% in early trading Monday.

EFI said that it may solicit alternative acquisition proposals from third parties during a so-called go-shop period over the next 45 calendar days. EFI said also that it will have the right to terminate the agreement to enter into a superior proposal subject to the terms and conditions of the agreement.

“We believe this transaction delivers superior and immediate value to our shareholders while providing us with a partner that can add strategic and operational expertise to our business,” said Chief Executive Bill Muir. “We are excited to partner with Siris’ highly experienced team on this next phase of growth for EFI.’

Subject to the go-shop, the proposed transaction is expected to close by the third quarter. It’s subject to approval by EFI’s shareholders, along with closing conditions and regulatory approvals. When the deal is complete, EFI will become wholly owned by an affiliate of Siris.

EFI also said Monday that it expected first-quarter revenue to be between $220 million and $225 million. The consensus on Capital IQ is for $220.2 million.

]]>https://wallstreet.org/electronics-for-imaging-to-be-acquired-by-siris-capital-group-affiliate-for-1-7-billion/04/15/2019/feed/0Bank of America to Modernize Over Half of Its Branches, Add 2,700 ATMs Over Next Three Yearshttps://wallstreet.org/bank-of-america-to-modernize-over-half-of-its-branches-add-2700-atms-over-next-three-years/04/07/2019/
https://wallstreet.org/bank-of-america-to-modernize-over-half-of-its-branches-add-2700-atms-over-next-three-years/04/07/2019/#respondSun, 07 Apr 2019 15:57:19 +0000https://wallstreet.org/?p=173723Bank of America (BAC) on Friday said that it would modernize more than half of its branches over the next three year as it moves to accommodate a wider range of retail customers. The Charlotte, N.C.-based banking giant also said it will expand into the Cleveland, Ohio and Lexington, Ky. markets in 2020. The country’s […]]]>

Bank of America (BAC) on Friday said that it would modernize more than half of its branches over the next three year as it moves to accommodate a wider range of retail customers.

The Charlotte, N.C.-based banking giant also said it will expand into the Cleveland, Ohio and Lexington, Ky. markets in 2020.

The country’s second-largest bank by assets said it will renovate 2,500 branches, adding more interactive technology to accommodate customers who often have more complex banking to handle, building on its work on 1,000 locations over the past three years.

The bank said it will add more than 2,700 enhanced ATMs over the next three years, and that it will complete multiyear efforts to upgrade its current 16,000 ATM network. The upgrades include the latest technology to help customers with more types of transactions.

“Designing the best client experience is a continuous process, and we’ve made great progress these last few years,” Dean Athanasia, president of consumer and small business at Bank of America, said in a statement. “Although more clients are using our digital banking capabilities, many still visit our centers for in-person conversations about some of their more complex financial needs. Our redesigned centers make it easy for them to access banking, lending, small business and investing professionals for tailored solutions and advice on their life priorities and financial goals.”

Bank of America said the expansion will create 5,500 jobs in its branches.

The bank last year said plans were under way to add more than 500 new branches across its network. It said Friday that as part of those plans, it has already opened 150 new locations over the past three years, and will open more than 250 over the next three years with many of those in new markets, adding that 90 are set to open this year.

]]>https://wallstreet.org/bank-of-america-to-modernize-over-half-of-its-branches-add-2700-atms-over-next-three-years/04/07/2019/feed/0Lyft Shares Buoyed as Citron Research Calls Ride Sharing a ‘Megatrend’https://wallstreet.org/lyft-shares-buoyed-as-citron-research-calls-ride-sharing-a-megatrend/04/07/2019/
https://wallstreet.org/lyft-shares-buoyed-as-citron-research-calls-ride-sharing-a-megatrend/04/07/2019/#respondSun, 07 Apr 2019 15:47:06 +0000https://wallstreet.org/?p=173715Lyft (LYFT) shares were gaining ground on Friday after short-seller Andrew Left’s Citron Research issued an upbeat note on the stock, saying ride-sharing is a “megatrend,” not a fad. The company’s shares made their trading debut a week ago after pricing its initial public offering at $72. But by Monday, the stock had fell below […]]]>

Lyft (LYFT) shares were gaining ground on Friday after short-seller Andrew Left’s Citron Research issued an upbeat note on the stock, saying ride-sharing is a “megatrend,” not a fad.

The company’s shares made their trading debut a week ago after pricing its initial public offering at $72. But by Monday, the stock had fell below that level amid mixed analysts’ opinions. It was back above the IPO price with a 4.1% rise at the time of writing Friday.

Citron said Lyft is “The Amateur Short” and that “shorting disruptive companies that dominate a megatrend simply because they lose money is a sure way to go broke.”

Lyft said in regulatory filings ahead of its listing that it posted a loss of more than $900 million last year on $2.1 billion in revenue. Still, it’s been gaining market share from its main competitor, Uber Technologies, reaching 39% of the domestic market at the end of 2018, up from 22% in December 2016.

“The principal of Citron has been an investor in Lyft for the past two years and we have increased our position in the open market,” the investment research firm said. “The entire ride share market in the US only accounts for 1% of miles traveled today… we have only just begun.”

The company’s active rider numbers have grown and Citron said the number will increase as the population ages, because the percentage of 18-year-olds using ride sharing is “exponentially higher” than the percentage of 70-year-olds.

“Lyft is in a rare class of businesses along with Amazon and Alibaba where people use the service more and more over time and don’t need to be reacquired,” Citron said. “This is in stark contrast to most other consumer businesses like Wayfair and/or Carvana where a customer’s purchases do not increase.”

Fewer American 16-year-olds are getting drivers’ licenses and millennials are turning away from car ownership to ride sharing, Citron said. They added that the future of ride sharing “is a subscription model that if executed properly is the ultimate blue sky.”

Shopify (SHOP) shares rose as much as 1.7% in Friday trading after Baird raised the price target of the e-commerce platform operator to $208 from $188.

“Our latest checks suggest Shopify continues to consolidate share,” Baird wrote in a research note.

The analyst said the consolidation happens despite intensifying competitive concerns from Adobe (ADBE), Facebook/Instagram (FB), Microsoft (MSFT), Salesforce (CRM), and Square (SQ), adding he believes it will take years and significant investment for others to catch up.

“While we would not dismiss the risks/opportunities for any of these companies, we note that Shopify’s platform required >$1 billion in R&D and marketing investment just over the past four years, and remains differentiated from current alternatives,” the analyst wrote.

Shopify shares were trading at $195.9, up 0.6%, at 2:15 p.m. ET in New York on Friday. The stock has advanced more than 41% since the beginning of the year, outperform the S&P Index that has gained more than 15%.

Winning customer loyalty is not an easy task nowadays. Companies are spending more and more on customer retention, but it does not help to stop the decreasing efficiency of their programs. It is getting harder to attract clients who appear to lack enthusiasm about collecting points and numerous discount cards.

Bitcoin and rival cryptocurrencies have been hit by a range of factors, including fears over tighter regulation and ongoing concerns over digital currency tether and its ability to collapse the Bitcoin market. U.S. regulators are investigating whether the spike in the price of bitcoin in 2017 was the result of market manipulation. On Friday, Nouriel Roubini, the economist credited with predicting the 2008 global financial crisis said bitcoin was “the mother of all bubbles.”

Profitability is coming from productivity, efficiency, management, austerity, and the way to manage the business.

Carlos Slim Mexican Business Magnate

The arrangement, which also includes insurance broker Aon Plc, will help businesses fortify their cyber security defenses and make them eligible to score more favorable terms for cyber coverage, such as lower or no deductibles, along with support services in the event of attack, the companies said. The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles.

Cyber coverage is a mounting concern for companies worldwide as hackers increasingly take aim at their technology systems. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace. Policyholders that are victims of a cyber attack will receive support services from either Cisco or Aon, the companies said.

Concerns have arisen among credit card providers because their customers have increasingly been using credit cards to fund accounts on online exchanges, which are then used to purchase the digital currencies. A spokeswoman for Chase bank said it is not currently processing credit card purchases of crypto currencies because of the volatility and risk involved, while a Citi spokeswoman confirmed a similar ban, but did not give a reason.

“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” the Lloyds spokeswoman said in an email. Lioyds did not say how it planned to enforce the ban, although the Telegraph newspaper reported on Sunday that its credit card customers will be blocked from buying Bitcoin online through a “blacklist” that will flag sellers.

The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles. Cyber coverage is a mounting concern for companies worldwide as hackers increasingly take aim at their technology systems. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace. U.S. cyber security premiums totaled $1.35 billion in 2016, according to the National Association of Insurance Commissioners. That is a sliver of the $244.9 billion in total premiums for U.S. commercial line insurers, but a growing market in which insurers are trying to distinguish themselves. Apple CEO Tim Cook said in June that his company and Cisco were collaborating to get cyber insurance discounts for businesses using their products. He said the combination of gear from the two companies was more secure than competing technology.

Winning customer loyalty is not an easy task nowadays. Companies are spending more and more on customer retention, but it does not help to stop the decreasing efficiency of their programs. It is getting harder to attract clients who appear to lack enthusiasm about collecting points and numerous discount cards.

Bitcoin and rival cryptocurrencies have been hit by a range of factors, including fears over tighter regulation and ongoing concerns over digital currency tether and its ability to collapse the Bitcoin market. U.S. regulators are investigating whether the spike in the price of bitcoin in 2017 was the result of market manipulation. On Friday, Nouriel Roubini, the economist credited with predicting the 2008 global financial crisis said bitcoin was “the mother of all bubbles.”

Profitability is coming from productivity, efficiency, management, austerity, and the way to manage the business.

Carlos Slim Mexican Business Magnate

The arrangement, which also includes insurance broker Aon Plc, will help businesses fortify their cyber security defenses and make them eligible to score more favorable terms for cyber coverage, such as lower or no deductibles, along with support services in the event of attack, the companies said. The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles.

Cyber coverage is a mounting concern for companies worldwide as hackers increasingly take aim at their technology systems. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace. Policyholders that are victims of a cyber attack will receive support services from either Cisco or Aon, the companies said.

Concerns have arisen among credit card providers because their customers have increasingly been using credit cards to fund accounts on online exchanges, which are then used to purchase the digital currencies. A spokeswoman for Chase bank said it is not currently processing credit card purchases of crypto currencies because of the volatility and risk involved, while a Citi spokeswoman confirmed a similar ban, but did not give a reason.

“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” the Lloyds spokeswoman said in an email. Lioyds did not say how it planned to enforce the ban, although the Telegraph newspaper reported on Sunday that its credit card customers will be blocked from buying Bitcoin online through a “blacklist” that will flag sellers.

The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles. Cyber coverage is a mounting concern for companies worldwide as hackers increasingly take aim at their technology systems. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace. U.S. cyber security premiums totaled $1.35 billion in 2016, according to the National Association of Insurance Commissioners. That is a sliver of the $244.9 billion in total premiums for U.S. commercial line insurers, but a growing market in which insurers are trying to distinguish themselves. Apple CEO Tim Cook said in June that his company and Cisco were collaborating to get cyber insurance discounts for businesses using their products. He said the combination of gear from the two companies was more secure than competing technology.

Winning customer loyalty is not an easy task nowadays. Companies are spending more and more on customer retention, but it does not help to stop the decreasing efficiency of their programs. It is getting harder to attract clients who appear to lack enthusiasm about collecting points and numerous discount cards.

Bitcoin and rival cryptocurrencies have been hit by a range of factors, including fears over tighter regulation and ongoing concerns over digital currency tether and its ability to collapse the Bitcoin market. U.S. regulators are investigating whether the spike in the price of bitcoin in 2017 was the result of market manipulation. On Friday, Nouriel Roubini, the economist credited with predicting the 2008 global financial crisis said bitcoin was “the mother of all bubbles.”

Profitability is coming from productivity, efficiency, management, austerity, and the way to manage the business.

Carlos Slim Mexican Business Magnate

The arrangement, which also includes insurance broker Aon Plc, will help businesses fortify their cyber security defenses and make them eligible to score more favorable terms for cyber coverage, such as lower or no deductibles, along with support services in the event of attack, the companies said. The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles.

Cyber coverage is a mounting concern for companies worldwide as hackers increasingly take aim at their technology systems. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace. Policyholders that are victims of a cyber attack will receive support services from either Cisco or Aon, the companies said.

Concerns have arisen among credit card providers because their customers have increasingly been using credit cards to fund accounts on online exchanges, which are then used to purchase the digital currencies. A spokeswoman for Chase bank said it is not currently processing credit card purchases of crypto currencies because of the volatility and risk involved, while a Citi spokeswoman confirmed a similar ban, but did not give a reason.

“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” the Lloyds spokeswoman said in an email. Lioyds did not say how it planned to enforce the ban, although the Telegraph newspaper reported on Sunday that its credit card customers will be blocked from buying Bitcoin online through a “blacklist” that will flag sellers.

The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles. Cyber coverage is a mounting concern for companies worldwide as hackers increasingly take aim at their technology systems. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace. U.S. cyber security premiums totaled $1.35 billion in 2016, according to the National Association of Insurance Commissioners. That is a sliver of the $244.9 billion in total premiums for U.S. commercial line insurers, but a growing market in which insurers are trying to distinguish themselves. Apple CEO Tim Cook said in June that his company and Cisco were collaborating to get cyber insurance discounts for businesses using their products. He said the combination of gear from the two companies was more secure than competing technology.

]]>https://wallstreet.org/bs-morgan-stanley-now-clearing-bitcoin-futures-for-clients-helping-institutions-gain-exposure/04/06/2019/feed/0What the Fork? New SegWit2x Launches With Massive Premine, Unknown Development Teamhttps://wallstreet.org/bs-what-the-fork-new-segwit2x-launches-with-massive-premine-unknown-development-team/04/06/2019/
https://wallstreet.org/bs-what-the-fork-new-segwit2x-launches-with-massive-premine-unknown-development-team/04/06/2019/#respondSat, 06 Apr 2019 19:25:40 +0000https://wallstreet.org/?p=173384Bitcoin Non-Commercial Speculator Positions: Large cryptocurrency speculators raised their bearish net positions in the Bitcoin futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.]]>

Winning customer loyalty is not an easy task nowadays. Companies are spending more and more on customer retention, but it does not help to stop the decreasing efficiency of their programs. It is getting harder to attract clients who appear to lack enthusiasm about collecting points and numerous discount cards.

Bitcoin and rival cryptocurrencies have been hit by a range of factors, including fears over tighter regulation and ongoing concerns over digital currency tether and its ability to collapse the Bitcoin market. U.S. regulators are investigating whether the spike in the price of bitcoin in 2017 was the result of market manipulation. On Friday, Nouriel Roubini, the economist credited with predicting the 2008 global financial crisis said bitcoin was “the mother of all bubbles.”

Profitability is coming from productivity, efficiency, management, austerity, and the way to manage the business.

Carlos Slim Mexican Business Magnate

The arrangement, which also includes insurance broker Aon Plc, will help businesses fortify their cyber security defenses and make them eligible to score more favorable terms for cyber coverage, such as lower or no deductibles, along with support services in the event of attack, the companies said. The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles.

Cyber coverage is a mounting concern for companies worldwide as hackers increasingly take aim at their technology systems. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace. Policyholders that are victims of a cyber attack will receive support services from either Cisco or Aon, the companies said.

Concerns have arisen among credit card providers because their customers have increasingly been using credit cards to fund accounts on online exchanges, which are then used to purchase the digital currencies. A spokeswoman for Chase bank said it is not currently processing credit card purchases of crypto currencies because of the volatility and risk involved, while a Citi spokeswoman confirmed a similar ban, but did not give a reason.

“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” the Lloyds spokeswoman said in an email. Lioyds did not say how it planned to enforce the ban, although the Telegraph newspaper reported on Sunday that its credit card customers will be blocked from buying Bitcoin online through a “blacklist” that will flag sellers.

The offering helps to streamline cyber security for businesses, which Hogg said are often addressed in a “siloed manner,” with everyone from technology staff to legal departments playing separate roles. Cyber coverage is a mounting concern for companies worldwide as hackers increasingly take aim at their technology systems. Cyber crime insurance, once a little-known product, has gained traction as hacks involving large companies such as Equifax Inc and Target Corp have become more costly and commonplace. U.S. cyber security premiums totaled $1.35 billion in 2016, according to the National Association of Insurance Commissioners. That is a sliver of the $244.9 billion in total premiums for U.S. commercial line insurers, but a growing market in which insurers are trying to distinguish themselves. Apple CEO Tim Cook said in June that his company and Cisco were collaborating to get cyber insurance discounts for businesses using their products. He said the combination of gear from the two companies was more secure than competing technology.